The Shyft Group, Inc. (SHYF) 10-Q 25 Jul 24 2024 Q2 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	6 Months Ended
	Jun. 30, 2024	Jul. 19, 2024
Document Information [Line Items]
Entity Central Index Key	0000743238
Entity Registrant Name	SHYFT GROUP, INC.
Amendment Flag	false
Current Fiscal Year End Date	--12-31
Document Fiscal Period Focus	Q2
Document Fiscal Year Focus	2024
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2024
Document Transition Report	false
Entity File Number	001-33582
Entity Incorporation, State or Country Code	MI
Entity Tax Identification Number	38-2078923
Entity Address, Address Line One	41280 Bridge Street
Entity Address, City or Town	Novi
Entity Address, State or Province	MI
Entity Address, Postal Zip Code	48375
City Area Code	517
Local Phone Number	543-6400
Title of 12(b) Security	Common Stock
Trading Symbol	SHYF
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		34,462,789

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Current Period Unaudited) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Current assets:
Cash and cash equivalents	$ 8,958	$ 9,957
Accounts receivable, less allowance of $412 and $276	93,698	79,573
Contract assets	39,237	50,305
Inventories	94,593	105,135
Other receivables – chassis pool agreements	19,555	34,496
Other current assets	7,489	7,462
Total current assets	263,530	286,928
Property, plant and equipment, net	78,952	83,437
Right of use assets – operating leases	42,810	45,827
Goodwill	48,880	48,880
Intangible assets, net	43,530	45,268
Net deferred tax assets	17,310	17,300
Other assets	2,556	2,409
TOTAL ASSETS	497,568	530,049
Current liabilities:
Accounts payable	73,971	99,855
Accrued warranty	8,136	7,231
Accrued compensation and related taxes	14,509	13,526
Contract liabilities	5,623	4,756
Operating lease liability	9,978	10,817
Other current liabilities and accrued expenses	9,551	11,965
Short-term debt – chassis pool agreements	19,555	34,496
Current portion of long-term debt	225	185
Total current liabilities	141,548	182,831
Other non-current liabilities	7,153	8,184
Long-term operating lease liability	34,580	36,724
Long-term debt, less current portion	65,197	50,144
Total liabilities	248,478	277,883
Commitments and contingent liabilities
Shareholders' equity:
Preferred stock, no par value: 2,000 shares authorized (none issued)	0	0
Common stock, no par value: 80,000 shares authorized; 34,448 and 34,303 outstanding	96,651	93,705
Retained earnings	152,439	158,461
Total shareholders' equity	249,090	252,166
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY	$ 497,568	$ 530,049

Condensed Consolidated Balanc_2

Condensed Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - USD ($) shares in Thousands, $ / shares in Thousands, $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Accounts receivable, allowance	$ 412	$ 276
Preferred stock, par value (in dollars per share)	$ 0	$ 0
Preferred stock, authorized (in shares)	2,000	2,000
Preferred stock, issued (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0	$ 0
Common stock, shares authorized (in shares)	80,000	80,000
Common stock, shares outstanding (in shares)	34,448	34,303

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Sales	$ 192,780	$ 225,101	$ 390,669	$ 468,540
Cost of products sold	152,193	182,347	316,020	382,862
Gross profit	40,587	42,754	74,649	85,678
Operating expenses:
Research and development	4,506	5,890	8,225	12,839
Selling, general and administrative	32,353	30,270	64,626	62,559
Total operating expenses	36,859	36,160	72,851	75,398
Operating income	3,728	6,594	1,798	10,280
Other income (expense)
Interest expense	(1,753)	(1,477)	(3,806)	(3,125)
Other income	80	124	177	194
Total other expense	(1,673)	(1,353)	(3,629)	(2,931)
Income (loss) before income taxes	2,055	5,241	(1,831)	7,349
Income tax expense (benefit)	(109)	556	674	986
Net income (loss)	2,164	4,685	(2,505)	6,363
Less: net loss attributable to non-controlling interest	0	0	0	32
Net income (loss) attributable to The Shyft Group Inc.	$ 2,164	$ 4,685	$ (2,505)	$ 6,395
Basic earnings (loss) per share (in dollars per share)	$ 0.06	$ 0.13	$ (0.07)	$ 0.18
Diluted earnings (loss) per share (in dollars per share)	$ 0.06	$ 0.13	$ (0.07)	$ 0.18
Basic weighted average common shares outstanding (in shares)	34,402	34,935	34,361	34,995
Diluted weighted average common shares outstanding (in shares)	34,474	34,991	34,361	35,161

Condensed Consolidated Statem_2

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Cash flows from operating activities:
Net income (loss)	$ (2,505)	$ 6,363
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	9,210	8,050
Non-cash stock-based compensation expense	3,484	3,090
Loss on disposal of assets	83	128
Deferred income taxes	(9)	0
Changes in accounts receivable and contract assets	(3,057)	68,064
Changes in inventories	10,542	(1,142)
Changes in accounts payable	(21,002)	(38,567)
Changes in accrued compensation and related taxes	983	303
Changes in accrued warranty	905	(1,143)
Change in other assets and liabilities	(1,461)	(9,525)
Net cash provided by (used in) operating activities	(2,827)	35,621
Cash flows from investing activities:
Purchases of property, plant and equipment	(9,243)	(10,963)
Proceeds from sale of property, plant and equipment	90	82
Acquisition of business, net of cash acquired	0	(500)
Net cash used in investing activities	(9,153)	(11,381)
Cash flows from financing activities:
Proceeds from long-term debt	65,000	70,000
Payments on long-term debt	(50,000)	(81,000)
Payments of dividends	(3,481)	(3,653)
Purchase and retirement of common stock	0	(8,786)
Exercise and vesting of stock incentive awards	(538)	(4,541)
Net cash provided by (used in) financing activities	10,981	(27,980)
Net decrease in cash and cash equivalents	(999)	(3,740)
Cash and cash equivalents at beginning of period	9,957	11,548
Cash and cash equivalents at end of period	$ 8,958	$ 7,808

Condensed Consolidated Statem_3

Condensed Consolidated Statement of Shareholders' Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Common Stock [Member]	Common Stock Including Additional Paid in Capital [Member]	Retained Earnings [Member]	Noncontrolling Interest [Member]	Total
Balance (in shares) at Dec. 31, 2022	35,066
Balance at Dec. 31, 2022		$ 92,982	$ 175,611	$ 101	$ 268,694
Issuance of common stock and tax impact of stock incentive plan (in shares)	5
Issuance of common stock and tax impact of stock incentive plan		(4,656)	0	0	(4,656)
Dividends declared		0	(1,820)	0	(1,820)
Issuance of restricted stock, net of cancellation (in shares)	193
Issuance of restricted stock, net of cancellation		0	0	0	0
Non-cash stock-based compensation expense		1,827	0	0	1,827
Net income (loss)			1,710	(32)	1,678
Purchase and retirement of common stock (in shares)	(349)
Purchase and retirement of common stock		(893)	(7,872)	0	(8,765)
Issuance of common stock and tax impact of stock incentive plan		4,656	0	0	4,656
Net income (loss)			1,710	(32)	1,678
Balance (in shares) at Mar. 31, 2023	34,915
Balance at Mar. 31, 2023		89,260	167,629	69	256,958
Balance (in shares) at Dec. 31, 2022	35,066
Balance at Dec. 31, 2022		92,982	175,611	101	268,694
Net income (loss)					6,363
Net income (loss)					6,363
Balance (in shares) at Jun. 30, 2023	34,956
Balance at Jun. 30, 2023		90,606	170,523	69	261,198
Balance (in shares) at Mar. 31, 2023	34,915
Balance at Mar. 31, 2023		89,260	167,629	69	256,958
Issuance of common stock and tax impact of stock incentive plan (in shares)	5
Issuance of common stock and tax impact of stock incentive plan		(83)	0	0	(83)
Dividends declared		0	(1,770)	0	(1,770)
Issuance of restricted stock, net of cancellation (in shares)	36
Issuance of restricted stock, net of cancellation		0	(21)	0	(21)
Non-cash stock-based compensation expense		1,263	0	0	1,263
Net income (loss)		0	4,685	0	4,685
Issuance of common stock and tax impact of stock incentive plan		83	0	0	83
Net income (loss)		0	4,685	0	4,685
Balance (in shares) at Jun. 30, 2023	34,956
Balance at Jun. 30, 2023		90,606	170,523	69	261,198
Balance (in shares) at Dec. 31, 2023	34,303
Balance at Dec. 31, 2023		93,705	158,461	0	252,166
Issuance of common stock and tax impact of stock incentive plan (in shares)	10
Issuance of common stock and tax impact of stock incentive plan		(389)	0	0	(389)
Dividends declared		0	(1,757)	0	(1,757)
Issuance of restricted stock, net of cancellation (in shares)	48
Issuance of restricted stock, net of cancellation		0	0	0	0
Non-cash stock-based compensation expense		1,474	0	0	1,474
Net income (loss)		0	(4,669)	0	(4,669)
Issuance of common stock and tax impact of stock incentive plan		389	0	0	389
Net income (loss)		0	(4,669)	0	(4,669)
Balance (in shares) at Mar. 31, 2024	34,361
Balance at Mar. 31, 2024		94,790	152,035	0	246,825
Balance (in shares) at Dec. 31, 2023	34,303
Balance at Dec. 31, 2023		93,705	158,461	0	252,166
Net income (loss)					(2,505)
Net income (loss)					(2,505)
Balance (in shares) at Jun. 30, 2024	34,448
Balance at Jun. 30, 2024		96,651	152,439	0	249,090
Balance (in shares) at Mar. 31, 2024	34,361
Balance at Mar. 31, 2024		94,790	152,035	0	246,825
Issuance of common stock and tax impact of stock incentive plan (in shares)	12
Issuance of common stock and tax impact of stock incentive plan		(149)	0	0	(149)
Dividends declared		0	(1,760)	0	(1,760)
Issuance of restricted stock, net of cancellation (in shares)	75
Issuance of restricted stock, net of cancellation		0	0	0	0
Non-cash stock-based compensation expense		2,010	0	0	2,010
Net income (loss)		0	2,164	0	2,164
Issuance of common stock and tax impact of stock incentive plan		149	0	0	149
Net income (loss)		0	2,164	0	2,164
Balance (in shares) at Jun. 30, 2024	34,448
Balance at Jun. 30, 2024		$ 96,651	$ 152,439	$ 0	$ 249,090

Condensed Consolidated Statem_4

Condensed Consolidated Statement of Shareholders' Equity (Unaudited) (Parentheticals) - $ / shares	3 Months Ended
	Jun. 30, 2024	Mar. 31, 2024	Jun. 30, 2023	Mar. 31, 2023
Dividends, Per Share (in dollars per share)	$ 0.05	$ 0.05	$ 0.05	$ 0.05

Note 1 - Nature of Operations a

Note 1 - Nature of Operations and Basis of Presentation	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Business Description and Accounting Policies [Text Block]	NOTE 1 – N ATURE OF OPERATIONS AND BASIS OF PRESENTATION As used herein, the term “Company”, “we”, “us” or “our” refers to The Shyft Group, Inc. and its subsidiaries unless designated or identified otherwise. Nature of Operations We are a niche market leader in specialty vehicle manufacturing and assembly for the commercial vehicle (including last-mile delivery, specialty service and vocation-specific upfit) and recreational vehicle industries. Our products include walk-in vans and truck bodies used in e-commerce/parcel delivery, upfit equipment used in the utility trades, service and vocational truck bodies, luxury Class A diesel motorhome chassis and contract manufacturing and assembly services. We also supply replacement parts and offer repair, maintenance, field service and refurbishment services for the vehicles that we manufacture as well as truck accessories. The accompanying unaudited interim condensed consolidated financial statements reflect all normal and recurring adjustments that are necessary for the fair presentation of our financial position as of June 30, 2024, our results of operations for the three and six months ended June 30, 2024 and our cash flows for the six months ended June 30, 2024. These condensed consolidated financial statements should be read in conjunction with the audited consolidated financial statements and footnotes included in our Annual Report on Form 10-K for the year ended December 31, 2023 filed with the Securities and Exchange Commission on February 22, 2024. The results of operations for the three and six months ended June 30, 2024, are not necessarily indicative of the results expected for the full year. For a description of key accounting policies followed, refer to the notes to The Shyft Group, Inc. consolidated financial statements for the year ended December 31, 2023, included in our Annual Report on Form 10-K. Supplemental Disclosures of Cash Flow Information Debt

Note 2 - Inventories

Note 2 - Inventories	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Inventory Disclosure [Text Block]	NOTE 2 – INVENTORIES Inventories are summarized as follows: June 30, 2024 December 31, Finished goods $ 6,013 $ 9,374 Work in process 2,124 2,543 Raw materials and purchased components 86,456 93,218 Total inventories $ 94,593 $ 105,135

Note 3 - Debt

Note 3 - Debt	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Debt Disclosure [Text Block]	NOTE 3 – DEBT Short-term debt consists of the following: June 30, December 31, Chassis pool agreements $ 19,555 $ 34,496 Total short-term debt $ 19,555 $ 34,496 Chassis Pool Agreements The Company obtains certain vehicle chassis for its walk-in vans, service bodies and specialty vehicles directly from the chassis manufacturers under converter pool agreements. Chassis are obtained from the manufacturers based on orders from customers, and in some cases, for unallocated orders. The agreements generally state that the manufacturer will provide a supply of chassis to be maintained at the Company’s facilities with the condition that we will store such chassis and will not move, sell, or otherwise dispose of such chassis except under the terms of the agreement. In addition, the manufacturer typically retains the sole authority to authorize commencement of work on the chassis and to make certain other decisions with respect to the chassis including the terms and pricing of sales of the chassis to the manufacturer’s dealers. The manufacturer also does not transfer the certificate of origin to the Company nor permit the Company to sell or transfer the chassis to anyone other than the manufacturer (for ultimate resale to a dealer). Although the Company is party to related finance agreements with manufacturers, the Company has not historically settled related obligations in cash, except as required under our credit agreement. The obligation is usually settled by the manufacturer upon reassignment of the chassis to an accepted dealer, and the dealer is invoiced for the chassis by the manufacturer. The Company has included this financing agreement on the Company’s Condensed Consolidated Balance Sheets within Other receivables – chassis pool agreements Short-term debt – chassis pool agreements Long-term debt consists of the following: June 30, December 31, Line of credit revolver $ 65,000 $ 50,000 Finance lease obligation 422 329 Total debt 65,422 50,329 Less current portion of long-term debt (225 ) (185 ) Total long-term debt $ 65,197 $ 50,144 Revolving Credit Facility On November 30, 2021, we entered into an Amended and Restated Credit Agreement by and among us and certain of our subsidiaries as borrowers, Wells Fargo Bank, N.A., as administrative agent, and the lenders party thereto consisting of Wells Fargo, N.A., JPMorgan Chase Bank, N.A., PNC Bank, N.A. and Bank of America, N.A. (the "Lenders"). Certain of our other subsidiaries have executed guaranties guarantying the borrowers' obligations under the Credit Agreement. On March 27, 2024, we entered into the Second Amendment to Amended and Restated Credit Agreement (the “Credit Agreement”). The Credit Agreement, among other things, (i) reduced the revolving credit commitments from $400,000 to $300,000, (ii) increased the applicable margin for term Secured Overnight Financing Rate ("SOFR") loans and base rate loans, (iii) adjusted the calculation of debt for purposes of determining the leverage ratio and (iv) temporarily increased the maximum leverage ratio. Under the Credit Agreement, we may borrow up to $300,000 from the Lenders under a secured revolving credit facility, which matures November 30, 2026. We may also request an increase in the facility of up to $200,000 in the aggregate, subject to customary conditions. The revolving credit facility is also available for the issuance of letters of credit of up to $20,000 and swing line loans of up to $15,000, subject to certain limitations and restrictions. The revolving credit facility carries an interest rate of either (i) the highest of prime rate, the federal funds effective rate from time to time plus 0.5%, or the one 1.50%; The revolving credit facility is secured by security interests in, and liens on, all assets of the borrowers and guarantors, other than real property and certain other excluded assets. At June 30, 2024 and December 31, 2023, we had outstanding letters of credit totaling $1,900 and $1,550, respectively, related to our workers’ compensation insurance. Under the terms of our Credit Agreement, available borrowings (exclusive of outstanding borrowings) totaled $42,320 and $83,243 at June 30, 2024 and December 31, 2023, respectively. The Credit Agreement requires us to maintain certain financial ratios and other financial covenants; prohibits us from incurring additional indebtedness; limits certain acquisitions, investments, advances or loans; limits our ability to pay dividends in certain circumstances; and restricts substantial asset sales, all subject to certain exceptions and baskets. At June 30, 2024 and December 31, 2023, we were in compliance with all financial covenants in our Credit Agreement.

Note 4 - Revenue

Note 4 - Revenue	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Revenue from Contract with Customer [Text Block]	NOTE 4 – REVENUE Changes in our contract assets and liabilities for the six months ended June 30, 2024 and 2023 are summarized below: June 30, 2024 June 30, 2023 Contract Assets Contract assets, beginning of period $ 50,304 $ 86,993 Reclassification of the beginning contract assets to receivables, as the result of rights to consideration becoming unconditional (46,118 ) (83,470 ) Contract assets recognized, net of reclassification to receivables 35,051 37,707 Contract assets, end of period $ 39,237 $ 41,230 Contract Liabilities Contract liabilities, beginning of period $ 4,756 $ 5,255 Reclassification of the beginning contract liabilities to revenue, as the result of performance obligations satisfied (3,702 ) (4,912 ) Cash received in advance and not recognized as revenue 4,569 3,855 Contract liabilities, end of period $ 5,623 $ 4,198 The aggregate amount of the transaction price allocated to remaining performance obligations in existing contracts that are yet to be completed in the Fleet Vehicles and Services ("FVS") and Specialty Vehicles ("SV") segments are $294,586 and $59,856, respectively. In the following tables, revenue is disaggregated by primary geographical market and timing of revenue recognition. The tables also include a reconciliation of the disaggregated revenue within the reportable segments. Three Months Ended June 30, 2024 FVS SV Eliminations and Other Total Primary geographical markets United States $ 94,358 $ 82,710 $ 76 $ 177,144 Other 15,482 154 - 15,636 Total sales $ 109,840 $ 82,864 $ 76 $ 192,780 Timing of revenue recognition Products transferred at a point in time $ 17,596 $ 30,622 $ 76 $ 48,294 Products and services transferred over time 92,244 52,242 - 144,486 Total sales $ 109,840 $ 82,864 $ 76 $ 192,780 Three Months Ended June 30, 2023 FVS SV Eliminations and Other Total Primary geographical markets United States $ 124,463 $ 87,519 $ (1,443 ) $ 210,539 Other 14,520 42 - 14,562 Total sales $ 138,983 $ 87,561 $ (1,443 ) $ 225,101 Timing of revenue recognition Products transferred at a point in time $ 13,692 $ 38,118 $ - $ 51,810 Products and services transferred over time 125,291 49,443 (1,443 ) 173,291 Total sales $ 138,983 $ 87,561 $ (1,443 ) $ 225,101 Six Months Ended June 30, 2024 FVS SV Eliminations and Other Total Primary geographical markets United States $ 175,727 $ 172,808 $ 76 $ 348,611 Other 41,872 186 - 42,058 Total sales $ 217,599 $ 172,994 $ 76 $ 390,669 Timing of revenue recognition Products transferred at a point in time $ 29,877 $ 73,379 $ 76 $ 103,332 Products and services transferred over time 187,722 99,615 - 287,337 Total sales $ 217,599 $ 172,994 $ 76 $ 390,669 Six Months Ended June 30, 2023 FVS SV Eliminations and Other Total Primary geographical markets United States $ 278,491 $ 174,703 $ (4,624 ) $ 448,570 Other 19,925 45 - 19,970 Total sales $ 298,416 $ 174,748 $ (4,624 ) $ 468,540 Timing of revenue recognition Products transferred at a point in time $ 25,846 $ 75,680 $ - $ 101,526 Products and services transferred over time 272,570 99,068 (4,624 ) 367,014 Total sales $ 298,416 $ 174,748 $ (4,624 ) $ 468,540

Note 5 - Property, Plant and Eq

Note 5 - Property, Plant and Equipment	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Property, Plant and Equipment Disclosure [Text Block]	NOTE 5 – PROPERTY, PLANT AND EQUIPMENT Property, plant and equipment are summarized by major classifications as follows: June 30, 2024 December 31, 2023 Land and improvements $ 12,583 $ 12,578 Buildings and improvements 55,734 53,789 Plant machinery and equipment 64,415 60,517 Furniture and fixtures 19,951 19,474 Vehicles 2,164 2,015 Construction in process 5,808 10,570 Subtotal 160,655 158,943 Accumulated depreciation (81,703 ) (75,506 ) Total property, plant and equipment, net $ 78,952 $ 83,437 We recorded depreciation expense of $3,906 and $3,233 during the three months ended June 30, 2024 and 2023, respectively, and $7,472 and $6,145 during the six months ended June 30, 2024 and 2023, respectively.

Note 6 - Leases

Note 6 - Leases	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Lessee, Operating Leases and Finance Leases [Text Block]	NOTE 6 – LEASES We have operating and finance leases for land, buildings and certain equipment. Our leases have remaining lease terms of one Debt Operating lease expenses are classified as Cost of products sold and Operating expenses on the Condensed Consolidated Statements of Operations. The components of lease expense were as follows: Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Operating leases $ 2,746 $ 2,983 $ 5,490 $ 5,947 Short-term leases(1) 328 370 646 622 Total lease expense $ 3,074 $ 3,353 $ 6,136 $ 6,569 (1) The weighted average remaining lease term and weighted average discount rate were as follows: June 30, 2024 2023 Weighted average remaining lease term of operating leases (in years) 6.9 7.2 Weighted average discount rate of operating leases 3.0 % 2.8 % Six Months Ended June 30, 2024 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flow for operating leases $ 5,857 $ 5,622 Right of use assets obtained in exchange for lease obligations: Operating leases $ 2,204 $ 8,672 Finance leases $ 290 $ 65 Maturities of operating lease liabilities as of June 30, 2024 are as follows: Years ending December 31: 2024 (1) $ 5,743 2025 10,682 2026 8,547 2027 5,792 2028 4,160 2029 3,650 Thereafter 10,716 Total lease payments 49,290 Imputed interest (4,732 ) Total lease liabilities $ 44,558 (1)

Note 7 - Commitments and Contin

Note 7 - Commitments and Contingent Liabilities	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Commitments and Contingencies Disclosure [Text Block]	NOTE 7 – COMMITMENTS AND CONTINGENT LIABILITIES At June 30, 2024, we and our subsidiaries were parties, both as plaintiff and defendant, to a number of lawsuits and claims arising out of the normal course of our businesses. In the opinion of management, our financial position, future operating results or cash flows will not be materially affected by the final outcome of these legal proceedings. Warranty Related We provide limited warranties against assembly/construction defects. These warranties generally provide for the replacement or repair of defective parts or workmanship for a specified period following the date of sale. The end users also may receive limited warranties from suppliers of components that are incorporated into our chassis and vehicles. Certain warranty and other related claims involve matters of dispute that ultimately are resolved by negotiation, arbitration or litigation. Infrequently, a material warranty issue can arise which is beyond the scope of our historical experience. We provide for any such warranty issues as they become known and are estimable. It is reasonably possible that additional warranty and other related claims could arise from disputes or other matters beyond the scope of our historical experience. An estimate of possible penalty or loss, if any, cannot be made at this time. Changes in our warranty liability are summarized below: Six Months Ended June 30, 2024 2023 Balance of accrued warranty at January 1 $ 7,231 $ 7,161 Accruals for warranties issued 3,540 2,002 Changes in liability for pre-existing warranties 222 (1,437 ) Cash settlements (2,857 ) (1,708 ) Balance of accrued warranty at June 30 $ $ 6,018 Legal Proceedings Relating to Environmental Matters As previously disclosed, in May 2020, the Company received an information request from the United States Environmental Protection Agency (“EPA”) requesting certain information regarding emissions labels on chassis, vocational vehicles, and vehicles that the Company manufactured or imported into the U.S. between January 1, 2017 to the date the Company received the request in May 2020. The Company responded to the EPA’s request and furnished the requested materials in the third quarter of 2020. On April 6, 2022, the Company received a Notice of Violation from the EPA alleging a failure to secure certain certifications on manufactured chassis and a failure to comply with recordkeeping and reporting requirements related to supplier-provided chassis. The Company continues to investigate this matter, including potential defenses, and is continuing to discuss the allegations with the EPA. We have recorded an accrual of $2,000 at June 30, 2024 for this matter and do not believe the outcome will be materially different from the amount accrued.

Note 8 - Taxes on Income

Note 8 - Taxes on Income	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Income Tax Disclosure [Text Block]	NOTE 8 – TAXES ON INCOME Our income tax expense(benefit) was ($109) and $556 for the three months ended June 30, 2024 and 2023, respectively. The tax expense represented a (5.3%) effective tax rate and 10.6% effective tax rate for the three months ended June 30, 2024 and 2023, respectively. Income tax expense was $674 and $986 for six months ended June 30, 2024 and 2023, respectively. The tax expense represented a (36.8%) effective tax rate and 13.4% effective tax rate for the six months ended June 30, 2024 and 2023, respectively The effective tax rate for the three and six months ended June 30, 2024 and 2023 differs from the U.S. statutory rate of 21% primarily due to the tax benefit of research credits offset by state tax expense and non-deductible officer compensation and a discrete tax expense in 2024 related to the difference in stock compensation expense recognized for financial reporting purposes and tax purposes upon vesting.

Note 9 - Business Segments

Note 9 - Business Segments	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Segment Reporting Disclosure [Text Block]	NOTE 9 – BUSINESS SEGMENTS We identify our reportable segments based on our management structure and the financial data utilized by our chief operating decision maker to assess segment performance and allocate resources among our operating units. We have two We evaluate the performance of our reportable segments based on Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization) and it is calculated by excluding items that we believe to be infrequent or not indicative of our underlying operating performance, as well as certain non-cash expenses. We define Adjusted EBITDA as income before interest, income taxes, depreciation and amortization, as adjusted to eliminate the impact of restructuring charges, acquisition related expenses and adjustments, non-cash stock-based compensation expenses, and other gains and losses not reflective of our ongoing operations. Our FVS segment focuses on designing and manufacturing walk-in vans for parcel delivery, trades, and construction industries, the production of commercial truck bodies, and the distribution of related aftermarket parts and accessories. Our SV segment consists of service bodies operations, operations that engineer and manufacture motorhome chassis, other specialty chassis and distributes related aftermarket parts and assemblies. We also provide vocation-specific equipment upfit services, which are marketed and sold under the Strobes-R-Us brand. The accounting policies of the segments are the same as those described, or referred to, in “Note 1 – Nature of Operations and Basis of Presentation. Three Months Ended June 30, 2024 Segment FVS SV Eliminations and Other Consolidated Fleet vehicle sales $ 92,244 $ - $ - $ 92,244 Motorhome chassis sales - 18,946 - 18,946 Other specialty vehicle sales - 58,062 76 58,138 Aftermarket parts and accessories sales 17,596 5,856 - 23,452 Total sales $ 109,840 $ 82,864 $ 76 $ 192,780 Depreciation and amortization expense $ 2,016 $ 1,543 $ 1,216 $ 4,775 Adjusted EBITDA 8,368 17,549 (13,445 ) 12,472 Segment assets 219,306 204,030 74,232 497,568 Capital expenditures 578 193 1,449 2,220 Three Months Ended June 30, 2023 Segment FVS SV Eliminations and Other Consolidated Fleet vehicle sales $ 125,291 $ - $ - $ 125,291 Motorhome chassis sales - 30,099 - 30,099 Other specialty vehicle sales - 51,652 (1,443 ) 50,209 Aftermarket parts and accessories sales 13,692 5,810 - 19,502 Total sales $ 138,983 $ 87,561 $ (1,443 ) $ 225,101 Depreciation and amortization expense $ 1,641 $ 1,700 $ 845 $ 4,186 Adjusted EBITDA 12,468 17,367 (13,968 ) 15,867 Segment assets 252,352 194,718 48,776 495,846 Capital expenditures 1,702 438 5,137 7,277 Six Months Ended June 30, 2024 Segment FVS SV Eliminations and Other Consolidated Fleet vehicle sales $ 187,722 $ - $ - $ 187,722 Motorhome chassis sales - 49,717 - 49,717 Other specialty vehicle sales - 111,467 76 111,543 Aftermarket parts and accessories sales 29,877 11,810 - 41,687 Total sales $ 217,599 $ 172,994 $ 76 $ 390,669 Depreciation and amortization expense $ 3,769 $ 3,085 $ 2,356 $ 9,210 Adjusted EBITDA 9,303 34,522 (25,265 ) 18,560 Segment assets 219,306 204,030 74,232 497,568 Capital expenditures 1,363 606 2,392 4,361 Six Months Ended June 30, 2023 Segment FVS SV Eliminations and Other Consolidated Fleet vehicle sales $ 272,570 $ - $ - $ 272,570 Motorhome chassis sales - 58,059 - 58,059 Other specialty vehicle sales - 106,349 (4,624 ) 101,725 Aftermarket parts and accessories sales 25,846 10,340 - 36,186 Total sales $ 298,416 $ 174,748 $ (4,624 ) $ 468,540 Depreciation and amortization expense $ 2,979 $ 3,379 $ 1,692 $ 8,050 Adjusted EBITDA 24,941 31,219 (29,505 ) 26,655 Segment assets 252,352 194,718 48,776 495,846 Capital expenditures 3,567 1,179 7,435 12,181

Note 10 - Subsequent Event

Note 10 - Subsequent Event	6 Months Ended
	Jun. 30, 2024
Notes to Financial Statements
Subsequent Events [Text Block]	NOTE 10 – SUBSEQUENT EVENT On July 24, 2024, the Company acquired 100% of the outstanding membership interests of Independent Truck Upfitters (“ITU”) for cash consideration of $46,150, subject to conveyance of real estate and customary adjustments and an additional $8,000 earn-out amount subject to meeting certain performance criteria within the first two years after the acquisition. The purchase price was funded with cash on hand and borrowings under our existing credit facility. ITU is a Midwest-based provider of turnkey upfit services for fleets of commercial and government service vehicles. Due to the proximity of the closing date of the acquisition to the date of this filing, the initial accounting for the business combination is incomplete. As a result, the Company is unable to disclose certain information including provisional fair value estimates of the identifiable net assets acquired and goodwill at this time. Due to its insignificant size relative to the Company, we do not expect to provide supplemental pro forma financial information of the combined entity for the current and prior reporting period. The Company will provide preliminary purchase price allocation with its third quarter Quarterly Report on Form 10-Q.

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2024
Insider Trading Arr Line Items
Material Terms of Trading Arrangement [Text Block]		Item 5. Other Information During the quarter ended June 30, 2024, no
Rule 10b5-1 Arrangement Adopted [Flag]	false
Rule 10b5-1 Arrangement Terminated [Flag]	false
Non-Rule 10b5-1 Arrangement Adopted [Flag]	false
Non-Rule 10b5-1 Arrangement Terminated [Flag]	false

Significant Accounting Policies

Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2024
Accounting Policies [Abstract]
Supplemental Disclosures of Cash Flow Policy [Policy Text Block]	Supplemental Disclosures of Cash Flow Information Debt

Note 2 - Inventories (Tables)

Note 2 - Inventories (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Schedule of Inventory, Current [Table Text Block]	June 30, 2024 December 31, Finished goods $ 6,013 $ 9,374 Work in process 2,124 2,543 Raw materials and purchased components 86,456 93,218 Total inventories $ 94,593 $ 105,135

Note 3 - Debt (Tables)

Note 3 - Debt (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Schedule of Short-Term Debt [Table Text Block]	June 30, December 31, Chassis pool agreements $ 19,555 $ 34,496 Total short-term debt $ 19,555 $ 34,496
Schedule of Long-Term Debt Instruments [Table Text Block]	June 30, December 31, Line of credit revolver $ 65,000 $ 50,000 Finance lease obligation 422 329 Total debt 65,422 50,329 Less current portion of long-term debt (225 ) (185 ) Total long-term debt $ 65,197 $ 50,144

Note 4 - Revenue (Tables)

Note 4 - Revenue (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Contract with Customer, Contract Asset, Contract Liability, and Receivable [Table Text Block]	June 30, 2024 June 30, 2023 Contract Assets Contract assets, beginning of period $ 50,304 $ 86,993 Reclassification of the beginning contract assets to receivables, as the result of rights to consideration becoming unconditional (46,118 ) (83,470 ) Contract assets recognized, net of reclassification to receivables 35,051 37,707 Contract assets, end of period $ 39,237 $ 41,230 Contract Liabilities Contract liabilities, beginning of period $ 4,756 $ 5,255 Reclassification of the beginning contract liabilities to revenue, as the result of performance obligations satisfied (3,702 ) (4,912 ) Cash received in advance and not recognized as revenue 4,569 3,855 Contract liabilities, end of period $ 5,623 $ 4,198
Disaggregation of Revenue [Table Text Block]	Three Months Ended June 30, 2024 FVS SV Eliminations and Other Total Primary geographical markets United States $ 94,358 $ 82,710 $ 76 $ 177,144 Other 15,482 154 - 15,636 Total sales $ 109,840 $ 82,864 $ 76 $ 192,780 Timing of revenue recognition Products transferred at a point in time $ 17,596 $ 30,622 $ 76 $ 48,294 Products and services transferred over time 92,244 52,242 - 144,486 Total sales $ 109,840 $ 82,864 $ 76 $ 192,780 Three Months Ended June 30, 2023 FVS SV Eliminations and Other Total Primary geographical markets United States $ 124,463 $ 87,519 $ (1,443 ) $ 210,539 Other 14,520 42 - 14,562 Total sales $ 138,983 $ 87,561 $ (1,443 ) $ 225,101 Timing of revenue recognition Products transferred at a point in time $ 13,692 $ 38,118 $ - $ 51,810 Products and services transferred over time 125,291 49,443 (1,443 ) 173,291 Total sales $ 138,983 $ 87,561 $ (1,443 ) $ 225,101 Six Months Ended June 30, 2024 FVS SV Eliminations and Other Total Primary geographical markets United States $ 175,727 $ 172,808 $ 76 $ 348,611 Other 41,872 186 - 42,058 Total sales $ 217,599 $ 172,994 $ 76 $ 390,669 Timing of revenue recognition Products transferred at a point in time $ 29,877 $ 73,379 $ 76 $ 103,332 Products and services transferred over time 187,722 99,615 - 287,337 Total sales $ 217,599 $ 172,994 $ 76 $ 390,669 Six Months Ended June 30, 2023 FVS SV Eliminations and Other Total Primary geographical markets United States $ 278,491 $ 174,703 $ (4,624 ) $ 448,570 Other 19,925 45 - 19,970 Total sales $ 298,416 $ 174,748 $ (4,624 ) $ 468,540 Timing of revenue recognition Products transferred at a point in time $ 25,846 $ 75,680 $ - $ 101,526 Products and services transferred over time 272,570 99,068 (4,624 ) 367,014 Total sales $ 298,416 $ 174,748 $ (4,624 ) $ 468,540

Note 5 - Property, Plant and _2

Note 5 - Property, Plant and Equipment (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Property, Plant and Equipment [Table Text Block]	June 30, 2024 December 31, 2023 Land and improvements $ 12,583 $ 12,578 Buildings and improvements 55,734 53,789 Plant machinery and equipment 64,415 60,517 Furniture and fixtures 19,951 19,474 Vehicles 2,164 2,015 Construction in process 5,808 10,570 Subtotal 160,655 158,943 Accumulated depreciation (81,703 ) (75,506 ) Total property, plant and equipment, net $ 78,952 $ 83,437

Note 6 - Leases (Tables)

Note 6 - Leases (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Lease, Cost [Table Text Block]	Three Months Ended Six Months Ended June 30, June 30, 2024 2023 2024 2023 Operating leases $ 2,746 $ 2,983 $ 5,490 $ 5,947 Short-term leases(1) 328 370 646 622 Total lease expense $ 3,074 $ 3,353 $ 6,136 $ 6,569 June 30, 2024 2023 Weighted average remaining lease term of operating leases (in years) 6.9 7.2 Weighted average discount rate of operating leases 3.0 % 2.8 % Six Months Ended June 30, 2024 2023 Cash paid for amounts included in the measurement of lease liabilities: Operating cash flow for operating leases $ 5,857 $ 5,622 Right of use assets obtained in exchange for lease obligations: Operating leases $ 2,204 $ 8,672 Finance leases $ 290 $ 65
Lessee, Operating Lease, Liability, to be Paid, Maturity [Table Text Block]	Years ending December 31: 2024 (1) $ 5,743 2025 10,682 2026 8,547 2027 5,792 2028 4,160 2029 3,650 Thereafter 10,716 Total lease payments 49,290 Imputed interest (4,732 ) Total lease liabilities $ 44,558

Note 7 - Commitments and Cont_2

Note 7 - Commitments and Contingent Liabilities (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Schedule of Product Warranty Liability [Table Text Block]	Six Months Ended June 30, 2024 2023 Balance of accrued warranty at January 1 $ 7,231 $ 7,161 Accruals for warranties issued 3,540 2,002 Changes in liability for pre-existing warranties 222 (1,437 ) Cash settlements (2,857 ) (1,708 ) Balance of accrued warranty at June 30 $ $ 6,018

Note 9 - Business Segments (Tab

Note 9 - Business Segments (Tables)	6 Months Ended
	Jun. 30, 2024
Notes Tables
Schedule of Segment Reporting Information, by Segment [Table Text Block]	Three Months Ended June 30, 2024 Segment FVS SV Eliminations and Other Consolidated Fleet vehicle sales $ 92,244 $ - $ - $ 92,244 Motorhome chassis sales - 18,946 - 18,946 Other specialty vehicle sales - 58,062 76 58,138 Aftermarket parts and accessories sales 17,596 5,856 - 23,452 Total sales $ 109,840 $ 82,864 $ 76 $ 192,780 Depreciation and amortization expense $ 2,016 $ 1,543 $ 1,216 $ 4,775 Adjusted EBITDA 8,368 17,549 (13,445 ) 12,472 Segment assets 219,306 204,030 74,232 497,568 Capital expenditures 578 193 1,449 2,220 Three Months Ended June 30, 2023 Segment FVS SV Eliminations and Other Consolidated Fleet vehicle sales $ 125,291 $ - $ - $ 125,291 Motorhome chassis sales - 30,099 - 30,099 Other specialty vehicle sales - 51,652 (1,443 ) 50,209 Aftermarket parts and accessories sales 13,692 5,810 - 19,502 Total sales $ 138,983 $ 87,561 $ (1,443 ) $ 225,101 Depreciation and amortization expense $ 1,641 $ 1,700 $ 845 $ 4,186 Adjusted EBITDA 12,468 17,367 (13,968 ) 15,867 Segment assets 252,352 194,718 48,776 495,846 Capital expenditures 1,702 438 5,137 7,277 Six Months Ended June 30, 2024 Segment FVS SV Eliminations and Other Consolidated Fleet vehicle sales $ 187,722 $ - $ - $ 187,722 Motorhome chassis sales - 49,717 - 49,717 Other specialty vehicle sales - 111,467 76 111,543 Aftermarket parts and accessories sales 29,877 11,810 - 41,687 Total sales $ 217,599 $ 172,994 $ 76 $ 390,669 Depreciation and amortization expense $ 3,769 $ 3,085 $ 2,356 $ 9,210 Adjusted EBITDA 9,303 34,522 (25,265 ) 18,560 Segment assets 219,306 204,030 74,232 497,568 Capital expenditures 1,363 606 2,392 4,361 Six Months Ended June 30, 2023 Segment FVS SV Eliminations and Other Consolidated Fleet vehicle sales $ 272,570 $ - $ - $ 272,570 Motorhome chassis sales - 58,059 - 58,059 Other specialty vehicle sales - 106,349 (4,624 ) 101,725 Aftermarket parts and accessories sales 25,846 10,340 - 36,186 Total sales $ 298,416 $ 174,748 $ (4,624 ) $ 468,540 Depreciation and amortization expense $ 2,979 $ 3,379 $ 1,692 $ 8,050 Adjusted EBITDA 24,941 31,219 (29,505 ) 26,655 Segment assets 252,352 194,718 48,776 495,846 Capital expenditures 3,567 1,179 7,435 12,181

Note 1 - Nature of Operations_2

Note 1 - Nature of Operations and Basis of Presentation (Details Textual) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Capital Expenditures Incurred but Not yet Paid	$ 703	$ 2,106

Note 2 - Inventories - Summary

Note 2 - Inventories - Summary of Inventories (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Finished goods	$ 6,013	$ 9,374
Work in process	2,124	2,543
Raw materials and purchased components	86,456	93,218
Total inventories	$ 94,593	$ 105,135

Note 3 - Debt (Details Textual)

Note 3 - Debt (Details Textual) - USD ($) $ in Thousands		6 Months Ended
	Mar. 27, 2024	Jun. 30, 2024	Dec. 31, 2023
Letters of Credit Outstanding, Amount		$ 1,900	$ 1,550
Lenders [Member] | Revolving Credit Facility [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 300,000		400,000
Line of Credit Facility, Potential Increase Borrowing Capacity	$ 200,000
Debt Instrument Reference Rate Term (Month)	1 month
Debt Instrument, Interest Rate During Period		6.93%
Line of Credit Facility, Current Borrowing Capacity		$ 42,320	$ 83,243
Lenders [Member] | Revolving Credit Facility [Member] | Fed Funds Effective Rate Overnight Index Swap Rate [Member]
Debt Instrument, Basis Spread on Variable Rate	0.50%
Lenders [Member] | Revolving Credit Facility [Member] | Secured Overnight Financing Rate (SOFR) [Member]
Debt Instrument, Basis Spread on Variable Rate	1.50%	1.50%
Lenders [Member] | Letter of Credit [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 20,000
Lenders [Member] | Swing Line Loans [Member]
Line of Credit Facility, Maximum Borrowing Capacity	$ 15,000

Note 3 - Debt - Short-term Debt

Note 3 - Debt - Short-term Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Short-term debt	$ 19,555	$ 34,496
Chassis Pool Agreements [Member]
Short-term debt	$ 19,555	$ 34,496

Note 3 - Debt - Schedule of Lon

Note 3 - Debt - Schedule of Long-term Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Line of credit revolver	$ 65,000	$ 50,000
Finance lease obligation	422	329
Total debt	65,422	50,329
Less current portion of long-term debt	(225)	(185)
Total long-term debt	$ 65,197	$ 50,144

Note 4 - Revenue (Details Textu

Note 4 - Revenue (Details Textual) $ in Thousands	Jun. 30, 2024 USD ($)
Fleet Vehicles and Services [Member]
Revenue, Remaining Performance Obligation, Amount	$ 294,586
Specialty Vehicles [Member]
Revenue, Remaining Performance Obligation, Amount	$ 59,856

Note 4 - Revenue - Contract Ass

Note 4 - Revenue - Contract Assets and Liabilities (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Contract assets, balance	$ 50,304	$ 86,993
Reclassification of the beginning contract assets to receivables, as the result of rights to consideration becoming unconditional	(46,118)	(83,470)
Contract assets recognized, net of reclassification to receivables	35,051	37,707
Contract assets, balance	39,237	41,230
Contract liabilities, balance	4,756	5,255
Reclassification of the beginning contract liabilities to revenue, as the result of performance obligations satisfied	(3,702)	(4,912)
Cash received in advance and not recognized as revenue	4,569	3,855
Contract liabilities, balance	$ 5,623	$ 4,198

Note 4 - Revenue - Disaggregate

Note 4 - Revenue - Disaggregated Revenue (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Revenues	$ 192,780	$ 225,101	$ 390,669	$ 468,540
Operating Segments [Member]
Revenues	76	(1,443)	76	(4,624)
Operating Segments [Member] | Transferred at Point in Time [Member]
Revenues	76	0	76	0
Operating Segments [Member] | Transferred over Time [Member]
Revenues	0	(1,443)	0	(4,624)
Consolidation, Eliminations [Member]
Revenues	192,780	225,101	390,669	468,540
Consolidation, Eliminations [Member] | Transferred at Point in Time [Member]
Revenues	48,294	51,810	103,332	101,526
Consolidation, Eliminations [Member] | Transferred over Time [Member]
Revenues	144,486	173,291	287,337	367,014
Fleet Vehicles and Services [Member] | Operating Segments [Member]
Revenues	109,840	138,983	217,599	298,416
Fleet Vehicles and Services [Member] | Operating Segments [Member] | Transferred at Point in Time [Member]
Revenues	17,596	13,692	29,877	25,846
Fleet Vehicles and Services [Member] | Operating Segments [Member] | Transferred over Time [Member]
Revenues	92,244	125,291	187,722	272,570
Specialty Vehicles [Member] | Operating Segments [Member]
Revenues	82,864	87,561	172,994	174,748
Specialty Vehicles [Member] | Operating Segments [Member] | Transferred at Point in Time [Member]
Revenues	30,622	38,118	73,379	75,680
Specialty Vehicles [Member] | Operating Segments [Member] | Transferred over Time [Member]
Revenues	52,242	49,443	99,615	99,068
UNITED STATES | Operating Segments [Member]
Revenues	76	(1,443)	76	(4,624)
UNITED STATES | Consolidation, Eliminations [Member]
Revenues	177,144	210,539	348,611	448,570
UNITED STATES | Fleet Vehicles and Services [Member] | Operating Segments [Member]
Revenues	94,358	124,463	175,727	278,491
UNITED STATES | Specialty Vehicles [Member] | Operating Segments [Member]
Revenues	82,710	87,519	172,808	174,703
Non-US [Member] | Operating Segments [Member]
Revenues	0	0	0	0
Non-US [Member] | Consolidation, Eliminations [Member]
Revenues	15,636	14,562	42,058	19,970
Non-US [Member] | Fleet Vehicles and Services [Member] | Operating Segments [Member]
Revenues	15,482	14,520	41,872	19,925
Non-US [Member] | Specialty Vehicles [Member] | Operating Segments [Member]
Revenues	$ 154	$ 42	$ 186	$ 45

Note 5 - Property, Plant and _3

Note 5 - Property, Plant and Equipment (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Depreciation	$ 3,906	$ 3,233	$ 7,472	$ 6,145

Note 5 - Property, Plant and _4

Note 5 - Property, Plant and Equipment - Summary of Property, Plant, and Equipment (Details) - USD ($) $ in Thousands	Jun. 30, 2024	Dec. 31, 2023
Property, plant and equipment, gross	$ 160,655	$ 158,943
Accumulated depreciation	(81,703)	(75,506)
Total property, plant and equipment, net	78,952	83,437
Land and Land Improvements [Member]
Property, plant and equipment, gross	12,583	12,578
Building and Building Improvements [Member]
Property, plant and equipment, gross	55,734	53,789
Machinery and Equipment [Member]
Property, plant and equipment, gross	64,415	60,517
Furniture and Fixtures [Member]
Property, plant and equipment, gross	19,951	19,474
Vehicles [Member]
Property, plant and equipment, gross	2,164	2,015
Construction in Progress [Member]
Property, plant and equipment, gross	$ 5,808	$ 10,570

Note 6 - Leases (Details Textua

Note 6 - Leases (Details Textual)	6 Months Ended
	Jun. 30, 2024
Minimum [Member]
Leases, Remaining Lease Terms (Year)	1 year
Maximum [Member]
Leases, Remaining Lease Terms (Year)	16 years
Lessee, Operating Lease, Renewal Term (Year)	15 years

Note 6 - Leases - Lease Expense

Note 6 - Leases - Lease Expense and Information (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
		Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Operating leases		$ 2,746	$ 2,983	$ 5,490	$ 5,947
Short-term leases(1)	[1]	328	370	646	622
Total lease expense		$ 3,074	$ 3,353	$ 6,136	$ 6,569
Weighted average remaining lease term of operating leases (in years) (Year)		6 years 10 months 24 days	7 years 2 months 12 days	6 years 10 months 24 days	7 years 2 months 12 days
Weighted average discount rate of operating leases		3%	2.80%	3%	2.80%
Operating cash flow for operating leases				$ 5,857	$ 5,622
Operating leases				2,204	8,672
Finance leases				$ 290	$ 65
[1]Includes expenses for month-to-month equipment leases, which are classified as short-term as the Company is not reasonably certain to renew the lease term beyond one month.

Note 6 - Leases - Future Minimu

Note 6 - Leases - Future Minimum Operating Lease Commitments Under Non-cancelable Operating Lease (Details) $ in Thousands	Jun. 30, 2024 USD ($)
2024(1)	$ 5,743	[1]
2025	10,682
2026	8,547
2027	5,792
2028	4,160
2029	3,650
Thereafter	10,716
Total lease payments	49,290
Imputed interest	(4,732)
Total lease liabilities	$ 44,558
[1]Excluding the six months ended June 30, 2024.

Note 7 - Commitments and Cont_3

Note 7 - Commitments and Contingent Liabilities (Details Textual) $ in Millions	Jun. 30, 2024 USD ($)
Possible EPA Violation [Member]
Loss Contingency Accrual	$ 2

Note 7 - Commitments and Cont_4

Note 7 - Commitments and Contingent Liabilities - Changes in Warranty Liability (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023
Balance of accrued warranty	$ 7,231	$ 7,161
Accruals for warranties issued	3,540	2,002
Changes in liability for pre-existing warranties	222	(1,437)
Cash settlements	(2,857)	(1,708)
Balance of accrued warranty	$ 8,136	$ 6,018

Note 8 - Taxes on Income (Detai

Note 8 - Taxes on Income (Details Textual) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023
Income Tax Expense (Benefit)	$ (109)	$ 556	$ 674	$ 986
Effective Income Tax Rate Reconciliation, Percent	(5.30%)	10.60%	(36.80%)	13.40%
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent			21%	21%

Note 9 - Business Segments (Det

Note 9 - Business Segments (Details Textual)	6 Months Ended
	Jun. 30, 2024
Number of Reportable Segments	2

Note 9 - Business Segments - Se

Note 9 - Business Segments - Segment Reporting Information (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2024	Jun. 30, 2023	Jun. 30, 2024	Jun. 30, 2023	Dec. 31, 2023
Revenues	$ 192,780	$ 225,101	$ 390,669	$ 468,540
Depreciation and amortization expense			9,210	8,050
Segment assets	497,568		497,568		$ 530,049
Capital expenditures			9,243	10,963
Operating Segments [Member]
Revenues	76	(1,443)	76	(4,624)
Operating Segments [Member] | Fleet Vehicles and Services [Member]
Revenues	109,840	138,983	217,599	298,416
Operating Segments [Member] | Specialty Vehicles [Member]
Revenues	82,864	87,561	172,994	174,748
Continuing Operations [Member]
Revenues	192,780	225,101	390,669	468,540
Depreciation and amortization expense	4,775	4,186	9,210	8,050
Adjusted EBITDA	12,472	15,867	18,560	26,655
Segment assets	497,568	495,846	497,568	495,846
Capital expenditures	2,220	7,277	4,361	12,181
Continuing Operations [Member] | Fleet Vehicle Sales [Member]
Revenues	92,244	125,291	187,722	272,570
Continuing Operations [Member] | Motorhome Chassis [Member]
Revenues	18,946	30,099	49,717	58,059
Continuing Operations [Member] | Other Specialty Vehicles [Member]
Revenues	58,138	50,209	111,543	101,725
Continuing Operations [Member] | Aftermarket Parts and Accessories Sales [Member]
Revenues	23,452	19,502	41,687	36,186
Continuing Operations [Member] | Operating Segments [Member] | Fleet Vehicles and Services [Member]
Revenues	109,840	138,983	217,599	298,416
Depreciation and amortization expense	2,016	1,641	3,769	2,979
Adjusted EBITDA	8,368	12,468	9,303	24,941
Segment assets	219,306	252,352	219,306	252,352
Capital expenditures	578	1,702	1,363	3,567
Continuing Operations [Member] | Operating Segments [Member] | Fleet Vehicles and Services [Member] | Fleet Vehicle Sales [Member]
Revenues	92,244	125,291	187,722	272,570
Continuing Operations [Member] | Operating Segments [Member] | Fleet Vehicles and Services [Member] | Motorhome Chassis [Member]
Revenues	0	0	0	0
Continuing Operations [Member] | Operating Segments [Member] | Fleet Vehicles and Services [Member] | Other Specialty Vehicles [Member]
Revenues	0	0	0	0
Continuing Operations [Member] | Operating Segments [Member] | Fleet Vehicles and Services [Member] | Aftermarket Parts and Accessories Sales [Member]
Revenues	17,596	13,692	29,877	25,846
Continuing Operations [Member] | Operating Segments [Member] | Specialty Vehicles [Member]
Revenues	82,864	87,561	172,994	174,748
Depreciation and amortization expense	1,543	1,700	3,085	3,379
Adjusted EBITDA	17,549	17,367	34,522	31,219
Segment assets	204,030	194,718	204,030	194,718
Capital expenditures	193	438	606	1,179
Continuing Operations [Member] | Operating Segments [Member] | Specialty Vehicles [Member] | Fleet Vehicle Sales [Member]
Revenues	0	0	0	0
Continuing Operations [Member] | Operating Segments [Member] | Specialty Vehicles [Member] | Motorhome Chassis [Member]
Revenues	18,946	30,099	49,717	58,059
Continuing Operations [Member] | Operating Segments [Member] | Specialty Vehicles [Member] | Other Specialty Vehicles [Member]
Revenues	58,062	51,652	111,467	106,349
Continuing Operations [Member] | Operating Segments [Member] | Specialty Vehicles [Member] | Aftermarket Parts and Accessories Sales [Member]
Revenues	5,856	5,810	11,810	10,340
Continuing Operations [Member] | Segment Reporting, Reconciling Item, Excluding Corporate Nonsegment [Member]
Revenues	76	(1,443)	76	(4,624)
Depreciation and amortization expense	1,216	845	2,356	1,692
Adjusted EBITDA	(13,445)	(13,968)	(25,265)	(29,505)
Segment assets	74,232	48,776	74,232	48,776
Capital expenditures	1,449	5,137	2,392	7,435
Continuing Operations [Member] | Segment Reporting, Reconciling Item, Excluding Corporate Nonsegment [Member] | Fleet Vehicle Sales [Member]
Revenues	0	0	0	0
Continuing Operations [Member] | Segment Reporting, Reconciling Item, Excluding Corporate Nonsegment [Member] | Motorhome Chassis [Member]
Revenues	0	0	0	0
Continuing Operations [Member] | Segment Reporting, Reconciling Item, Excluding Corporate Nonsegment [Member] | Other Specialty Vehicles [Member]
Revenues	76	(1,443)	76	(4,624)
Continuing Operations [Member] | Segment Reporting, Reconciling Item, Excluding Corporate Nonsegment [Member] | Aftermarket Parts and Accessories Sales [Member]
Revenues	$ 0	$ 0	$ 0	$ 0

Note 10 - Subsequent Event (Det

Note 10 - Subsequent Event (Details Textual) - Independent Truck Upfitters [Member] - Subsequent Event [Member] $ in Thousands	Jul. 24, 2024 USD ($)
Business Acquisition, Percentage of Voting Interests Acquired	100%
Payments to Acquire Businesses, Gross	$ 46,150
Business Combination, Contingent Consideration Arrangements, Range of Outcomes, Value, High	$ 8,000